all the bag of the big picture i'm tom hartman coming up in this half hour just when you thought obamacare was the law of the land a new challenge that trademark legislation could send the case back to the supreme court it's going on with this latest attack on affordable health care and what are the chances that millions of americans will lose access to it and in tonight's daily take the eurozone is in a shambles the american economy is in much better an economic downturn is the name of the game across the globe all that's bad news for most of the world it's music to the ears of goldman sachs.

is about as the rest of the news it's the in first infrastructure spending stupid with our national infrastructure needing as much as two trillion dollars in improvements and millions of americans still out of work president obama democrats in congress are pushing legislation to invest money in putting americans back to work rebuilding roads bridges and tunnels public in the block these efforts claiming our nation can't afford it but a new report by the san francisco federal reserve bank shows republicans are lying according to the report each dollar of federal highway grants received by a state raises that state's annual economic output by at least two dollars that's because with more americans working and collecting a paycheck they can afford to spend money which stimulates the. economy they are

the job creators after all the consumers plus have better roads and bridges companies can move their products around the nation at a lower cost more workers and businesses make more money more tax revenue comes into the government pays down our deficit this is econ one hundred one so the question is why are people still opposed to the government investing in our national infrastructure let's ask austin piers libertarian commentator and director of production of freedom or it's a go back thank you for having me glad to have you with us what is it about the difference between spending and investment that libertarians don't get well because nobody said that that investment that roads are actually an investment you have to understand you know if you know how capitalism works if you know how that works then roads we're going tom we don't need roads and you have to understand in our advanced economy today that there is not a lot of reason not to have roads and have the capital that is going to give us all of but a large jets and that's right absolutely absolutely and if you look at pax right and if you look at north korea if you think that it's going to roads build an

economy they have plenty of wide open eight lane highways but they have no commerce with which to drive on those roads so it's not really technically investment you have to have a demand or you can actually invest in something you have to save money before you can spend it so that's how that works so you're suggesting in. some i don't understand how north korea that well you see they have eight lane highways now all these national average north korean does not have s. they invest all sorts of money into building or if they want i mean they are building of roads and they think that that is the way to build it is the keynesian fallacy they think that by paying workers to dig holes and then put them back in the stimulating the economy but what you get are projects like the bridge to nowhere and the big dig in boston which is still bleeding money you know nobody in america no rational person and i mean this is such a straw man no no rational person same cheap let's and the late north korea right well something else well apparently well they are saying let's not emulate north korea say it why even talk about north the idea let's look at the united states of america time that we could. possibly invest in infrastructure because we are in

a recession and what happens is when you're in a recession the price istomin is skewed so because government when they make an investment they can never make a good investment anyway because they don't have a profit incentive oh no this is an absolute bull again to say you have not differentiated the difference between you and i don't think you understand the difference between investment and spending well it's not an investment produces a return right you get there or you get the return you make back more than you put in right but you have this whole spending before you can invest that's why it is not doing that because you know because you have to allocate capital properly right now we have a misallocation little we have a recession happening right now people who are hurting right now and so it's all the more reason to invest that capital but it doesn't mean that if yes but let the private citizens invest it how they will the government can invest that properly especially interest rates as they are as you understand right now as interest rates are so low tom and i this is the perfect time for god but you're probably not a big fan of the big corporate us federal reserve who are keeping artificial interest rates permanent keeping we have pricing signals that are totally

misallocated if we were to start spending on infrastructure now the government could be investing wildly you know willy nilly all over the place and you would never know if you could get a return on investment so desperately in the so have a just average let me just let me just understand this. china can have you know brand new high speed rail super good infrastructure great roads you know everything is you know it's amazing how modern it was i was there in the in the eighty's and you look at it now as. we can't afford x. we're too broke to just you know pay and have better roads though tom japan had better roads in china and guess what they did they liberalize they they instituted a policy of law say fair when it came to the transportation policy they were building a three hundred mile radius and they're building a three hundred mile per hour magnetic levitation train right now they're going to blow away china and the united states and it's totally privatized that's what japan did that was i guarantee you that is not totally yes it is the japan national railways were privatized in one thousand nine hundred seven they were able to pay back their construction debt and make capital prove much time listen to their networks they reversed their stagnation and decline that the japanese same enemies . so the same thing would do it your bond but this is that's just one piece of

a larger infrastructure and to us and in china it was already and there was already built now but my point is that what what i hear you saying is that america shouldn't be doing this we can't afford no i guarantee of the japanese railroad just like you bought in germany could not have been privatized had it not been built the first place on an angle and if they privatized the rest they privatized their roads and then they d. privatized them because it was a horrible failure. that socialist confuse the distinction between government and society you have to understand that just because i don't want the government doing something it doesn't mean that i don't want to be done there's a face here a lot of india by the name of manji he built his own road sixteen foot wide passage in twenty two years because his wife broke his ankle save people from an eight kilometer trip to a it used to be a fifty kilometer trip to go through the mountains of india so it's a man who built for america is to hope that capital is like yourself they were told that the government was going to the highway as a road or build going to hawaii three years ago business is the residents of hawaii island of kauai they were in trouble there was

a local local road depend on tourism it was totally flooded the government focus is all right it's not all racial it's small because you want to fix that and you're going to do this with an interstate highway system no i'm not necessarily what i'm going to do it with is the private initiative citizens who need the cost and we're out of time i'm looking forward to the jetpack ok thank you very. to piers now to the continued battle over obamacare this week the supreme court ordered a lower court the fourth circuit court of appeals to rehear a case challenging the constitutionality of obamacare liberty university filed suit against that law's lawyer mandate arguing that violates the first amendment and the religious freedom restoration act since it could lead to employers paying for health insurance that covers birth control the lawsuit was previously dismissed on technical grounds since the employer mandate hadn't fully gone into effect yet but since the supreme court ruled on obamacare without the law going into full of fact yet it ordered the fourth circuit to hear the case again on its merits supreme court's decision earlier this. you're upholding obamacare didn't even consider the

employer mandate which is one component holding the entire law together so depending on how the fourth circuit court rules in this case the supreme court could once again determine the fate of tens of millions of americans who don't have health insurance joining me for now for more on this is ethan raul executive director of health care for america even welcome back thanks very much our you very well thank you thanks for joining us what do you think is motivating the supreme court had basically pushing this down of the fourth circuit again are they expecting it to bounce back to them or are they expecting at the just to die there to be to be ratified as well you know i don't know what they're expecting to happen i think what's likely to occur is that it's likely to die in the fourth circuit and we're not going to hear you know there's a fourth circuit is going to say the individual mandate is constitutional i think so. why why. was there so you know i was the the let's just step back for once because all of these lawsuits and all of these attacks are

prompted by people who want to continue to take down obamacare and when we talk about this issue we now have eighty six million americans with free preventive care and beginning in august of two thousand and twelve for women that meant free contraception means no cost contraception the matter where you work and that's about where the rush limbaugh is very upset about yes he doesn't like them calls people names but that's about giving women the ability to control their health their bodies their family planning this is a huge huge thing so going back to these to these lawsuits so there's three dozen lawsuits kicking around the liberty one the supreme court sent it back to the fourth circuit and that's a circuit that is notoriously liberal. judges are appointed by a democratic presidents and when they originally ruled on the case two of the three in their ruling that they were supported. of obamacare so i don't think this case

is going to put out force if the fourth circuit rules that obamacare or that the the individual mandate provision. which includes the free birth control or you know free preventative care which includes birth control and you've got these and abortion folks saying there are some kinds of birth control that prevent implantation in the uterus therefore it's actually an abortifacient therefore this is really an abortion you know cetera et cetera i mean there's a you get really into the my new show of. if if they if the four circuits as soon as all five then want those groups simply appeal that to the supreme court now it's back at scotus in the supreme court if you've got you know five members of the supreme court who are hardcore right wingers antonin scalia just a few weeks ago in a public in a public venue said you know there is no right in the constitution to abortion he was looking for an opportunity to revisit roe v wade could this be it or take take out obamacare based on that pivot point where i don't think so i mean you know the

thing for all of us to remember is that not a lot of people said that the supreme court. run by a chief justice john roberts as conservative as you get was going to uphold obamacare we said that proponents that but that's actually what happened so i don't think that this is going to make its way back to the court i don't think we're going to see but it only takes four judges to grant cert you know it might be flanked by his buddies for fellow right wing crazies sure but i don't think this is going to open up an abortion debate and again i want to go back to where this thing starts which is we've got free preventive care for millions and millions of americans and when some concerns were raised about the issue of religious liberty the obama administration issued guidelines and the bottom line is those guidelines respect religious liberty while protecting the health of women and the equality of women and those seem to be values we ought. to care about and share and that's what

makes this win win and that's why these lawsuits are part of an attack on on this law and folks should move on we have an historic extraordinary let's let it take effect let's let everybody be insured and move on well i you know i really hope you're right i'm very skeptical that the liberty university folks that these these right wing crazies are going to let go of this or that partisan republicans for that matter are going to let obama have the victory but i certainly hope you're right thank you so much to make you appreciate your dropping by. coming up as economies across the globe fall into turmoil and millions struggle to survive the banks toure's and goldman sachs are licking their chops i'll explain how the wall street giant is taking over the planet in tonight's daily to.

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crazy alert facebook follies and body part one facebook has a strict statement of rights and responsibilities which details what can and cannot be posted on that social networking site among those things that can't be posted or photos that contain nudity so naturally facebook thinks it found a picture of the woman bearing her breast for the world to see it's going to take a picture down to look at this photo at first glance you may think it's a woman in a bathtub showing up for us facebook thought so took the photo down with a twenty four hours but take a look more closely with her actually elbows now look at this picture what do you

see probably think in the looks awful i go by crack right wrong it's actually one of our producers needs them so while neither of these pictures are the real deal you can check out plenty of actual breasts and bought in the latest edition of hustler magazine on newsstands now sam and i even have a two page spread in it really we do on page ninety four. the people of greece saw their democratically elected prime minister george pop and forced out of office in november of two thousand and eleven and replaced by an unelected conservative technocrat fellow by the name of lucas papademos most were unaware of the bigger picture of what was happening all around. similarly most of

us in the united states were equally as ignorant when back in two thousand and eight despite the switchboards at the u.s. capitol collapsing under the volume of phone calls from constituents urging a no vote our elected representatives voted yes at the bush at the behest of george bush's treasury secretary hank paulson and g.m. through the biggest bailout of wall street in our nation's history but now as the bank of england a key player in the ongoing euro zone crisis is the bank of england announces that former investment banker mark carney is going to be their new chief. we pretty much can the longer ignore what's happening around the world there's one tied the bines mark carney in the u.k. lucas papademos in greece and henry paulson in the united states and that one thing that thread. it's goldman sachs all were former bank stars and executives at the

wall street giant all assumed prominent positions of power and all played a hand after the global financial meltdown of two thousand and seven two thousand and eight as making sure goldman sachs weathered the storm and made significant profits in the process but that's just scratching the surface steadily and still fully goldman sachs appears to be carrying out a global kutai as europe descends into an austerity induced economic crisis goldman sachs's people are managing the demise of the continent as the british newspaper the independent reported earlier this year the conservative technocrats currently steering or who have steered post crash fiscal policy in greece germany italy belgium france and now the u.k. all hail from goldman sachs in fact the head of the european central bank itself

mark mario draghi is the former managing director of goldman sachs international and here in the united states after treasury secretary and former goldman c.e.o. henry paulson did his job in two thousand and eight securing goldman's multi billion dollar bailout he was replaced in the new obama administration with tim geithner who had worked hand in glove with goldman sachs as head of the new york fed which was supposed to oversee and regulate them and geithner made sure that goldman received more than fourteen billion from the bailout of failed insurance giant aig. what's happening here goes back more than a decade in two thousand and one goldman sachs secretly help greece hide billions of dollars through the use of complex financial instruments like credit default swaps this allowed greece to meet the baseline requirements to enter the eurozone in the first place. but it also created a debt bubble that would later explode and bring about the current economic crisis

that's drowning the entire continent but always looking ahead goldman protected itself from this debt bubble by betting against the greek bonds expecting that they would eventually fail ironically the man who headed up the central bank of greece while this daisey deal was being arranged with goldman was drumroll please lucas papademos greece's former conservative prime minister the man on the right next to greece's former socialist prime minister george papandreou goldman made similar deals here in the united sates masking the true value of their investments and selling those worthless investments to customers placing bid so that those same investments would eventually fail the most notorious example was the timberwolves deal which brought down an australian hedge fund and which goldman sachs banks toure's emailed each other about bragging boy hours one crappy deal or more

specific word you get the sort of behavior by goldman helped inflate and then eventually pop the housing bubble right here in the united states in the shockwave then ran across the atlantic hitting europe and turning goldman's debt masking deal with greece years earlier busted open the us deep in the crisis all of these antics crimes behaviors should have brought the demise of goldman with their alumni in key policy positions on both sides of the atlantic goldman not only survived they flourished as the daily koz sums up. the normal scenario usually involves helping a nation hide a problem and sell its debt until the problem blows up into a bubble that bursts in a spectacular way goldman sachs then put their man into a position of power to direct the bailout so the goldman gets all its money back

and more while the nation nation's economy gets got it for years tinfoil hat crazies who bookmark glenn beck's websites and often appear as experts on fox so-called news have warned us about a one world government we don't know is the president about less than one hundred company didn't turn out so well but what is he going to go i don't know if he has or not on he's going to send his sin the hillary who knows what he's going to do well secretary of state hillary clinton is one of those has been espousing the kyoto accord this global environmental sort of life truthfully i think he will go and you think he's going to make some big concession oh definitely i really think he's going over there to try to create a one world order the u.s. state department the federal reserve even the e.p.a. are sending billions of dollars overseas and many economic and political decisions made in the united states just don't benefit us they benefit a would be one world government george soros thinks that nation states like when

the king said guess when you say that that would mean that we the people that state's constitution would be circumvented at the altar of the this one world what one world government one world secondary. the latest according to these guys is agenda twenty one and the creation of a soviet style world authority that will confiscate private property everywhere redistribute wealth to developing nations and force us all to live by a new global laws that sacrifice our national sovereignty its totality and governments frankly and not international corporations if we're going to be afraid of they should be warning us about when the tinfoil hat is removed you can see that a sort of one world government has already been established in a far more subtle form through the rise of goldman sachs and their colleagues in the wall street only a million questions arise when looking at what's happening around the world but many of these questions could be answered once you acknowledge that goldman sachs alumni have executed what appears to be

a global critic tom. why are the working people of greece portugal spain and italy suffering under austerity and being asked to sacrifice their pensions their wages and their jobs but after five years it's clear these policies are only making these nations debts even harder to pale it's because goldman sachs is sucking the last remaining wealth out of those nations to recoup whatever failed investments they made before the crash why have thousands of homeowners in the united states turn to suicide domestic violence and even mass murder when faced with home foreclosures when a simple solution like rewriting mortgages which f.d.r. did successfully during the great depression could put an end to the bloodshed in the misery it's because rewriting mortgages would force banks like goldman sachs to take a hit and thanks to the game they've created they actually make more money when a home they own is foreclosed on why despite mountains of evidence and banks

there's a goldman sachs and other wall street institutions not been thrown in jail for the fraud in customers manipulating libel or interest rates and throwing thousands of americans out of their home. illegally in a massive robo signing scandal it's because we have a two tiered justice system in which those in power like goldman sachs executives they can slap on the rest when they still fifty billion dollars people like you and me go to jail if we walk out of a seven eleven with a slurpee that we didn't pay for now does it make sense why wall street was bailed out and main street got sold out in this post crash world were agents of goldman sachs have infiltrated key positions of power literally all around the world we must all fundamentally re understand how we view the global economy and just how much effect our democratic institutions have on this economy we no longer have an economy geared to benefit working people around the world we have an economy it's

geared to exploiting working people for the profits of goldman sachs and companies like them listen to what trader alessio told the b.b.c. in september before goldman's lucas papademos was installed as greece's prime minister for most traders it's not about is that we don't really care that much how to in the face the how to fix the economy how to going to fix the whole situation our job is to make money from it and personally i've been dreaming of this one for three years when the market crashes when the euro and the big start to crash if you know what to do. if you have the right plan to set up you can you can make a lot of money from this and as we've seen over the last decade goldman sachs knew exactly what to do they had the right plan and it's nothing short of a global global kutai as restante bluntly told the b.b.c.

but this is not a time right now to wishful thinking the government going to sort things out the governments don't rule the world goldman sachs rules the world and we should do something about. and that's the way it is tonight tuesday nov twenty seventh two thousand and twelve for more information on any of the stories we've covered visit our website to tom hartman dot com crispy stet org. if you missed any in tonight's show you can now watch it in h.d. on hulu absolute dot com slash if you also check out our two you tube channels there are links to thom hartmann dot com also of. all the different ways you can send us your feedback and don't forget democracy is not a spectator sport it's not enough just a vote every two years or four years or whatever it may be get involved don't move to amend org and sign up go to p.t. america dot org and sign it find your local group of democrats republicans libertarians greens whatever it may be get involved democracy begins with you get

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